Gilman Management Corp. pays $3.2M to Lilmor Management for 24-unit rental in Crown Heights

Gilman Management Corp. through the entity 1616 President Street Associates LLC paid $3.2 million to Lilmor Management through the entity 1616 President Street Realty LLC for the 24-unit rental (C1) at 1616 President Street in Crown Heights, Brooklyn.
The deal closed on September 14, 2021 and was recorded on September 24, 2021.
The property has 19,528 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot is $162 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for Lilmor Management was Morris Lieberman.

Morris Lieberman is located at the same location as the seller entity. Morris Lieberman is associated with the company.
The former owners according to the Department of Housing Preservation and Development included Jason Korn, head officer and Gerard Roberts, site manager. The business entity was 1616 President St Realty Llc.

Within a 400-foot radius of 1616 President Street, PincusCo identified one commercial real estate item of interests occurred over the past 24 months.
It was a loan which David Fischer borrowed $19 million from New York Community Bank secured by the 44,640-square-foot, 44-unit rental (C1) on 1625 President Street and three other properties on July 17, 2020.

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